In a decisive move to accelerate its international growth strategy, Abu Dhabi’s AD Ports Group has secured full ownership of Spain’s historic Balenciaga Astilleros Shipyard through a €11.2 million transaction. The acquisition, executed by group subsidiary Safeen Drydocks, marks a significant expansion of the Emirati company’s European footprint and enhances its capabilities in the rapidly evolving offshore energy sector.
The Basque-based shipyard brings nearly a century of specialized shipbuilding expertise to the UAE ports and logistics operator, including two drydocks, a 105-meter slipway, and automated fabrication facilities spanning over 22,000 square meters. This strategic asset positions AD Ports among the limited number of European operators capable of constructing Service Operation Vessels critical for offshore wind farm maintenance, alongside research vessels and specialized maritime support craft.
Captain Ammar Al Shaiba, Chief Executive of the Maritime and Shipping Cluster at AD Ports Group, emphasized that the acquisition aligns with the company’s portfolio diversification objectives and clean energy ambitions. The transaction enables significant technology transfer and operational synergies across Safeen Drydocks and the group’s expanding global maritime network.
This European expansion occurs alongside robust operational growth within the UAE, where Khalifa Port has demonstrated consistent container throughput increases supported by new shipping services and expanded terminal capacity. The group has reported double-digit revenue growth across recent reporting periods, driven by simultaneous expansion across its ports, maritime, logistics, and economic cities divisions.
The Balenciaga acquisition represents the latest in a series of strategic international investments spanning Europe, Africa, and Central Asia over the past three years. These moves have included the earlier acquisition of Spanish logistics firm Noatum and numerous port concessions and inland terminals that strengthen trade corridors connecting Asia, the Middle East, and Europe.
Notably, the shipyard’s geographic proximity to major offshore wind clusters in Northern Europe positions AD Ports to capitalize on the region’s accelerating renewable energy expansion. The move complements the group’s existing partnership with Masdar in offshore wind development and anticipates growing demand for specialized vessels as European nations intensify their transition to clean energy sources.